User Account

All Pages

How would this effect the balance and income

Assignment Help Accounting Basics
Reference no: EM132646278

Question - If a company fails to record wages of $3000 at the end of the year (December 31st 2020) and records them on January 31st, 2021 of the following year. How would this effect the balance & income sheet at the end of the year in December 2021 and by how much would it be effected?

Reference no: EM132646278

Questions Cloud

Open the appropriate accounts in the purchases ledger : How to Open the appropriate accounts in the Purchases Ledger, Sales Ledger, and the General Ledger and post the transactions.
Find for the correct balance of inventory as of december : Compute for the correct balance of inventory as of December 31, 20x1. the inventory count sheet shows total inventory of P180,000
Why amount of profit attributable to non-controlling : Why the amount of profit attributable to non-controlling interest is not equal to 10% of the net profit of the company for the financial year?
Find the amount of financing needed by tahoma corporation : Find the amount of financing needed by Tahoma Corporation. Operating profit margin is forecasted at 7 percent of sales. Expected sales is $550,000,000
How would this effect the balance and income : How would this effect the balance & income sheet at the end of the year in December 2021 and by how much would it be effected
Non-linear relationship between satisfaction and loyalty : Explain the non-linear relationship between satisfaction and loyalty using the example of the industry with a monopoly economy.
Explain how enhances your leadership skills : Explain how this enhances your leadership skills and empowers you to make a positive difference.
Describe the pros and cons of each tool : Please find at least three tools on the market that teams can use to collaborate on a geographically dispersed team. Please note the pros and cons of each tool.
Explain two principles of time management : a) Explain two principles behind the need for a leader to be self-aware and understand their behavior, personality and learning style

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analyze what is involved in a product costing system

Analyze what is involved in a product costing system. Explain why Wilson-West Manufacturing needs to have a product costing system.

  Compute the net present value for this machine

Elite Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $300,000 cost.

  Calculate wage expense by multiplying average weekly payroll

Determine and Calculated the wages expense by multiplying the average weekly payroll paid to non-salaried employees times the number of employees.

  What are the january ending inventory

What are the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system

  Estimating of the market values

Roark Company paid $630,000 for a basket purchase that included land, a building and equipment. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately:

  What are the company fixed expenses

The unit contribution margin is $6, and the break-even point in unit sales is 24 000. What are the company's fixed expenses

  Indicate the amount of revenue that should be allocated

Appliance Center, Indicate the amount of revenue that should be allocated to the oven, the installation, and to the maintenance contract.

  Internet significantly influenced business

Porter's Five Forces. The internet significantly influenced business and strategic planning. In your opinion, according to Porter's Five Forces Model, has competition increased or decreased overall as a result of the Internet and e-commerce? Justi..

  What are the tax issues confronting HillTop

Your client, HillTop, is a retailer of women's clothing. What are the tax issues confronting HillTop related to the gift cards

  Prepare all required adjusting journal entries

Prepare all required adjusting journal entries, prepare a complete set of financial statements for the year ended december

  What types of industries have unearned revenue

What types of industries have unearned revenue? Why is unearned revenue considered a liability. Distinguish between accounts payable and notes payable

  What are the us tax consequences of tenys

Tenco, a domestic corporation, manufactures tennis rackets for sale in the United States and abroad. what are the U.S. tax consequences of Teny's Year 1

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd